ARTICLE 3a. Standard Valuation Law [10489.1. - 10489.992.]
Article 3a repealed and added by Stats. 1981, Ch. 767, Sec. 13.
§§ 10489.1–10489.992 · 19 sections
- § 10489.1 (a) This article shall be known as the Standard Valuation Law. (b) For the purposes of this article, the following definitions shall apply: (1) “Accident and…
- § 10489.12 (a) For policies and contracts issued prior to the operative date of the valuation manual, both of the following shall be satisfied: (1) The commissioner shall…
- § 10489.15 (a) Each of the following shall apply to actuarial opinions submitted prior to the operative date of the valuation manual: (1) For an actuarial opinion, every…
- § 10489.2 For a computation of minimum standard, except as provided in Sections 10489.3, 10489.4, and 10489.95, the minimum standard for the valuation of policies and…
- § 10489.3 (a) Except as provided in Section 10489.4, the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after the…
- § 10489.4 (a) The interest rates used in determining the minimum standard for the valuation of the following shall be the calendar year statutory valuation interest…
- § 10489.5 (a) Except as otherwise provided in Sections 10489.6, 10489.9, and 10489.95, reserves according to the commissioners reserve valuation method, for the life…
- § 10489.6 (a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement…
- § 10489.7 (a) A company’s aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, shall not be less than the aggregate…
- § 10489.8 (a) Reserves for any category of policies, contracts, or benefits established by the commissioner may be calculated, at the option of the company, according to…
- § 10489.9 (a) If in any contract year the gross premium charged by any life insurer on any policy or contract is less than the valuation net premium for the policy or…
- § 10489.93 In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurance company…
- § 10489.94 (a) The commissioner may issue a bulletin to provide tables of select mortality factors and rules for their use, rules concerning a minimum standard for the…
- § 10489.95 For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is…
- § 10489.96 (a) For policies issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of…
- § 10489.97 (a) A company shall establish reserves using a principle-based valuation that meets the following conditions for policies or contracts as specified in the…
- § 10489.98 A company shall submit mortality, morbidity, policyholder behavior, or expense experience and other data as prescribed in the valuation manual.
- § 10489.99 (a) For purposes of this section, “confidential information” means: (1) A memorandum in support of an opinion submitted pursuant to Section 10489.15 and any…
- § 10489.992 (a) (1) The commissioner may hire and assign department staff, and retain nondepartment actuaries and other consultants, to assist the commissioner with…